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Reserve Bank of India names new leader

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The Reserve Bank of India named Urjit Patel its new governor.

Currently deputy governor, Patel is known to be hawkish on inflation, which remains one of the big worries in the Indian economy.

Patel succeeds Raghuram Rajan, who announced in June he would step down Sept. 4 as head of India's central bank.

Read more from BBC News.

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